Which of the Following Statements Is False

question 7

Multiple Choice

Which of the following statements is false?

• A)There is an opportunity cost associated with any choice made.
• B)If there is a budget constraint, there will be scarcity.
• C)A person without a budget constraint does not face opportunity costs.
• D)Opportunity costs occur because of scarce resources.
• E)Because of scarcity, choices have to be made.

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Definitions:

Motivational Carrots

Incentives or rewards offered to encourage desired behaviors or performances from individuals or groups.

Normative Approach

A perspective in ethics or psychology that focuses on establishing norms or standards of behavior.

Locus Of Control

A psychological concept that refers to individuals' belief about the extent to which the outcomes of their actions are under their own control (internal locus) or influenced by external forces (external locus).

Social Institutions

Structured systems of social order that govern the behavior and expectations of individuals within a society.